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Taiwan to deploy investment from insurance funds to help finance island’s green energy
Taiwan is phasing out coal-fired power stations and shifting to...
EU to review corporate liability under Europe’s toughest ESG Law
Plans to cut reporting requirements — especially for small and...
Amazon faces $1B class action lawsuit in the UK over Buy Box
The litigation is being spearheaded by the law firm Hausfeld & Co LLP, which said in a news release that anyone who lives in the U.K. and made purchases on Amazon since October 2016 is eligible to be a claimant. Amazon is facing a USD 1 billion class action...
Blunck to succeed Jeworrek as chair of Munich Re’s Reinsurance Committee
Thomas Blunck Munich Re has also appointed Clarisse Kopff (49), with effect from 1 December 2022, and Mari-Lizette Malherbe (38), with effect from 1 January 2023, as new members of the Board of Management Munich: The Supervisory Board of Munich Re on Thursday has...
BMW chief warns against setting gas-powered phase-out date
Oliver Zipse, chairman,BMW "We don't want cars to be taken away out of the base segment, politically that's super dangerous," Zipse said. "If you all of a sudden make car ownership only for rich people, it's a dangerous thing." US President Joe Biden has called for...
Covid-19 still public health emergency of international level: WHO
The committee recommended that there should be three key priorities in the future: strengthening surveillance and achieving vaccination targets for at risk-groups; continuing to increase access to affordable therapeutics; and strengthening pandemic preparedness...
Natural disasters cost global economy over $227 billion till Q3 2022: Aon Cat Report
Michal Lörinc, head of catastrophe insight in Aon’s Impact Forecasting team, said: “It is anticipated that there will be robust loss development across many of the reported natural catastrophes, especially with the realization of costs associated with recent tropical...
Hurricane Ian fallout will test Cat Bond investor appetite
Cat bonds are approximately 30% of the ILS market. Commentary from the Monte Carlo Rendezvous 2022 indicated a pipeline of ILS deals of $5 bil. of additional reinsurance capacity, which would benefit insurers facing a hardening market New York: Reinsurers facing...
Rise and fall of ‘Covid Billionaires’, 26 from Asia
Out of the 58 Covid billionaires, 26 have citizenships in Asia, 18 hail from the US and Canada, and 10 from Europe. Just two are female: Falguni Nayar — founder of India’s first woman-led unicorn to go public, beauty retailer Nykaa — and Denise Coates, the co-CEO and...
Australian banks may have to rethink mortgages in risk areas -NAB
Ross McEwan, chief executive officer of National Australia Bank Ltd said that as devastating floods become more frequent it raises questions about whether banks will help people buying assets in flood-prone areas and what the cost will be Australian banks may have to...
U.S. Treasury proposes a new rule to collect data on climate-related risks from P&C insurers
U.S. Treasury Secretary Janet Yellen has pressed U.S. financial regulators to make assessment of climate change risks a normal part of their everyday work, including a demand that companies increase disclosures of such risks to investors Treasury said the proposed...
Swiss Re estimates Hurricane Ian claims at approximately $1.3 billion
Swiss Re estimates the preliminary total insured market loss from Hurricane Ian at USD 50–65 billion Swiss Re's P&C business reported and normalised combined ratios were affected in the third quarter by an increase in small- to mid-sized claims, partly driven by...